Moriarty says savvy investors should take note of human behavior in the commodities market: when retail investors sell gold, smart money is buying.
Sound money activists have long pointed out it is inappropriate to apply any federal income tax, regardless of the rate, against the only kind of money named in the U.S. Constitution. The IRS has never defended how its position squares up with current law.
Not only is gold in a bull run, but it has entered the phase which can be compared to a bank run (as previously explained) on the world financial system, with the US dollar financial system acting as the world banker.
On net, central banks globally increased their gold holdings by 16 tons in March 2024, according to the latest data compiled by the World Gold Council. Buyers added 40 tons of gold to their reserves. This was offset by a net 25 tons in sales.
We are sliding rapidly into dystopia even before the global holocaust predicted in the Apocalypse (Book of Revelation) has hit.
The market is two months into Gold's breakout from its 13-year cup and handle pattern. Even as Gold and Silver correct, the miners show relative strength and hint at what will come.
The two previous lows were in 1971 and 2000, after which multi-year gold bull markets followed. So, most likely a new bull market is upon us.
So as you look at the market, you've got gold up $8 for the week, up a third of a percentage point, nothing is really going on. You don't have a trend, you have a lower low and a higher high on the swing line.
